Bank of Marin Bancorp (NASDAQ:BMRC) Upgraded at Zacks Investment Research

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “Bank of Marin is a California State chartered bank. “

BMRC has been the topic of several other research reports. ValuEngine downgraded Bank of Marin Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 5th. BidaskClub downgraded Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, September 27th.



Bank of Marin Bancorp stock traded up $0.39 during mid-day trading on Friday, hitting $41.10. The company’s stock had a trading volume of 20,946 shares, compared to its average volume of 32,657. The company has a 50 day moving average of $41.54 and a 200-day moving average of $41.89. The stock has a market cap of $552.55 million, a PE ratio of 17.64 and a beta of 0.55. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.89 and a current ratio of 0.89. Bank of Marin Bancorp has a one year low of $38.00 and a one year high of $45.13.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.60 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60. The company had revenue of $26.06 million for the quarter, compared to the consensus estimate of $26.59 million. Bank of Marin Bancorp had a return on equity of 10.70% and a net margin of 31.30%. On average, equities research analysts forecast that Bank of Marin Bancorp will post 2.38 EPS for the current fiscal year.

In other Bank of Marin Bancorp news, EVP Peter Pelham sold 3,000 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $40.10, for a total value of $120,300.00. Following the transaction, the executive vice president now owns 9,857 shares of the company’s stock, valued at approximately $395,265.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 7,391 shares of company stock worth $304,991 in the last ninety days. 5.29% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Parametric Portfolio Associates LLC grew its position in shares of Bank of Marin Bancorp by 1.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 21,592 shares of the bank’s stock worth $886,000 after buying an additional 307 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of Bank of Marin Bancorp by 205.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 855 shares of the bank’s stock worth $35,000 after buying an additional 575 shares in the last quarter. Confluence Investment Management LLC grew its position in shares of Bank of Marin Bancorp by 0.5% during the 2nd quarter. Confluence Investment Management LLC now owns 127,581 shares of the bank’s stock worth $5,234,000 after buying an additional 619 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Bank of Marin Bancorp by 648.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,460 shares of the bank’s stock worth $59,000 after buying an additional 1,265 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of Bank of Marin Bancorp by 31.8% during the 2nd quarter. Bank of Montreal Can now owns 5,274 shares of the bank’s stock worth $217,000 after buying an additional 1,272 shares in the last quarter. 45.23% of the stock is currently owned by institutional investors and hedge funds.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.

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